Top Stocks to Watch Today: Adani Power, Nykaa, Zomato, Hindalco, and More—What You Need to Know

Here are the top stocks that are likely to make headlines in today’s trading:

Adani Power: The Hyderabad branch of the National Company Law Tribunal (NCLT) has approved Adani Power’s plan to buy Lanco Amarkantak Power Ltd (LAPL) with an upfront payment of ₹4,101 crore. LAPL is currently going through the Corporate Insolvency Resolution Process. This deal will give Adani Power full ownership of LAPL, but it’s subject to certain conditions mentioned in the plan.

Nykaa (FSN E-Commerce Ventures): Harindarpal Singh Banga, an early investor in Nykaa, plans to sell up to 1.4% of his shares in the company at a minimum price of ₹198 per share. As of June, Singh held a 6.4% stake in Nykaa, making this a significant sale.

Hindalco: Hindalco Industries, part of the Aditya Birla Group, is planning to invest $10 billion in expanding its operations. The expansion includes aluminum and copper smelters, a new alumina refinery, and the Bay Minnette expansion in Novelis. The company is also considering increasing its Aditya Aluminium smelter capacity by 200,000 tonnes, with a focus on using renewable energy for power.

Ambuja Cements: The Adani Group is set to sell a 2.84% stake in Ambuja Cements through a block deal to raise about ₹4,200 crore. The sale will involve 69.96 million shares at a floor price of ₹600 per share, which is 5% lower than the previous closing price. The Adani Group currently holds a 70.33% stake in Ambuja Cements.

Bharti Airtel: Bharti Airtel has successfully reduced its Goods and Services Tax (GST) liability after an appeal concerning the reverse charge on License Fees and Spectrum Usage Charges. Initially set at ₹604.66 crore, the amount has been reduced to ₹194 crore by the GST Appellate Authority, giving the telecom company some financial relief.

GAIL (India) Ltd: GAIL has signed an agreement with US-based Petron Scientech Inc. to explore building a 500-kilo ton per year bio-ethylene plant and other related units in India. This move is part of India’s push towards sustainable and bio-based chemical production.

PNB Housing Finance: Asia Opportunities V (Mauritius) sold a 3% stake in PNB Housing Finance for over ₹676 crore via an open market transaction. The firm sold 78 lakh shares at ₹866.70 each. After this sale, its holding in PNB Housing Finance has dropped from 5.19% to 2.19%. Meanwhile, the Government of Singapore bought a 0.64% stake in the company for ₹143.74 crore.

Zomato: Zomato has decided to shut down its Intercity Legends service, which delivered famous dishes from 10 cities across India. This move shows a change in the company’s strategy as it focuses on its main services.

Wipro: Rizing Management LLC, a subsidiary of Wipro, has been voluntarily closed as of August 21. Additionally, Wipro has been chosen by the John Lewis Partnership to modernize its IT infrastructure, further cementing its role in global IT services.